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speaker john boehner calls the house back into session for sunday night. that stokes investor hopes for a fiscal cliff deal and this coming just a few hours after harry reid's comments sent the dow into a tailspin. we have complete coverage in this developing story which is happening tonight as we speak. also, as supplies from the obama team, ep achieve lisa jackson stepping down. can the coal companies finally breathe a sigh of relief? guess what happened in britain when the uk banned handguns. the surprising result that could change the gun control debate. "the kudlow report" start ises right now. >>> the big news tonight, still the developments in washington on the fiscal cliff, eamon javers joins us with the details. >> good evening, meshel. capitol hill sources tell cnbc that congressional leaders are planning to go to the white house tomorrow to meet with president barack obama and it is not entirely clear at this point when that meeting will take place and details are still being hammered out and we saw today a blistering series of rhetorical jabs f
speaker john boehner calls the house back into session for sunday night. that stokes investor hopes for a fiscal cliff deal and this coming just a few hours after harry reid's comments sent the dow into a tailspin. we have complete coverage in this developing story which is happening tonight as we speak. also, as supplies from the obama team, ep achieve lisa jackson stepping down. can the coal companies finally breathe a sigh of relief? guess what happened in britain when the uk banned...
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. >> months and months of talks between the president and boehner, both times boehner could not deliver because they refuse because of grover norquist to allow any tax revenues whatsoever. they cannot cross over the threshold that has been built by grover norquist. >> grover norquist joins us now exclusively here on cnbc. grover, we just heard you are the target of those comments, but did harry reid get it wrong, because i thought that your organization actually gave its blessing to boehner's plan "b." >> reid has it wrong on a number of levels. the first, of course, is that the pledge that many congressmen and senators have made to oppose tax increases is made to the people of their state, not to me. in fact, harry reid now has the republican senator joining him from nevada who won because he made that commitment. he took the pledge, and the democrat that harry reid supported attacked him for taking the pledge, and the people of nevada said we want a senator who will stand with us against harry reid's tax increases, so -- and, of course, the issue that came up with plan "b" which was m
. >> months and months of talks between the president and boehner, both times boehner could not deliver because they refuse because of grover norquist to allow any tax revenues whatsoever. they cannot cross over the threshold that has been built by grover norquist. >> grover norquist joins us now exclusively here on cnbc. grover, we just heard you are the target of those comments, but did harry reid get it wrong, because i thought that your organization actually gave its blessing to...
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boehner. but in the end, i don't think anybody so this day takes those fiscal conservatives as seriously as they better take them. in today's op-ed by mr. reynolds of putnam, was also disappointing. i mean i just don't think you can sequate the idea that peopl have certain beliefs. and just because you send a representative there that doesn't agree with other's beliefs, this isn't the electorate as being mean. they just want what they want. >> rick santelli, scott nation, thank you. >> merry christmas, joe. >> merry christmas. >> thanks a lot. >> merry christmas andrew ross. >> happy holidays, guys. >> you, too. >> and coming up, andrew? >> coming up, italian prime minister mario monti stepping down to set up the february elections. could he win another term? could silvio berlusconi mount a serious challenge? that's the story. and share som. or you can get out there and actually share something. ♪ the lexus december to remember sales event is on. this is the pursuit offection. >>> welcome ba
boehner. but in the end, i don't think anybody so this day takes those fiscal conservatives as seriously as they better take them. in today's op-ed by mr. reynolds of putnam, was also disappointing. i mean i just don't think you can sequate the idea that peopl have certain beliefs. and just because you send a representative there that doesn't agree with other's beliefs, this isn't the electorate as being mean. they just want what they want. >> rick santelli, scott nation, thank you....
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do you feel critical of speaker boehner? do you feel he's eshausted his options, at this point? >> i thought speaker boehner made a very good effort. i think his proposal was very, very good. it did walk away from not taxing anyone, which was our position and is our position, but he gave on that, and kept all the other things in place which people aren't talking about. it could have kept the marriage tax rent relieve, the tax credit, all those things becoming permanent law and that was in the plan "b" that john boehner was trying to get the members to vote for. i think we need to get democratic votes on the senate side and republican votes on the house side. >> the game plan is to get some sort of comprehensive tax reform next year, hearing that in the is not and house. moderates like yourself, like olimpia snowe and joe lieberman and dig lugar, and on and, is it possible with the new conditioning next year to get some sort of tax reform when it's been impossible for the last year and a half. >> i hope so. we don't control but one house, and the democrats control one house and t
do you feel critical of speaker boehner? do you feel he's eshausted his options, at this point? >> i thought speaker boehner made a very good effort. i think his proposal was very, very good. it did walk away from not taxing anyone, which was our position and is our position, but he gave on that, and kept all the other things in place which people aren't talking about. it could have kept the marriage tax rent relieve, the tax credit, all those things becoming permanent law and that was in...
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said boehner, why did byner -- they were so close, only a couple hundred billion apart, why did boehner walk away? wasn't there an insistence that you do two years for the debt ceiling that they didn't waiver on? >> yeah, there are a couple of elements that boehner didn't like in what the president was proposing. one was the semipermanent or multiyear debt ceiling deal, which he thought gave up too much control from congress. and then the other one was, they didn't think that all the spending cuts that the president was proposing were, in fact, real. they thought that the president was proposing savings from spending on interest that you wouldn't have to make if you brought down the deficit a little bit. they thought that shouldn't count under the limit, and that was a couple hundred billion dollars there. >> but the two-year thing was probably a nonstarter because, you know, we're going to talk to john cannis in a second because i sort of thought all along that if we went over the cliff it was good for the president, because he gets tax rates back to where he wants them, without negoti
said boehner, why did byner -- they were so close, only a couple hundred billion apart, why did boehner walk away? wasn't there an insistence that you do two years for the debt ceiling that they didn't waiver on? >> yeah, there are a couple of elements that boehner didn't like in what the president was proposing. one was the semipermanent or multiyear debt ceiling deal, which he thought gave up too much control from congress. and then the other one was, they didn't think that all the...
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boehner w was -- speaker boehner was doing the dirty work they were unable to do. >> i know you aren't watching the markets closely. would it alter the calculus at all? does it mean we get a framework in 24 hours if we lost a lot? >> caller: yes. i think the tragedy of what we're failing to do in congress we should do it on our own because it's our responsibility. the only way it looks like we do some of these things is after we get pistol whipped by the market. with the debt ceiling last august that was essentially what is about to happen. i think the market is going to punish us for our failure to act and may be the only thing that gets us to act. >> finally, have you been to a starbucks lately? putting comments on coffee cups to get you guys put a deal together. >> caller: i'm in vermont and we are deficifferent coffee folks earl' earl's. >> a way to make a deal on the cliff, already ordering his grande cliff special to see for himsel himself. >> how are you doing, carl. we are 10 minutes from the white house and some of the more prominent washington d.c. think tanks are close by. a
boehner w was -- speaker boehner was doing the dirty work they were unable to do. >> i know you aren't watching the markets closely. would it alter the calculus at all? does it mean we get a framework in 24 hours if we lost a lot? >> caller: yes. i think the tragedy of what we're failing to do in congress we should do it on our own because it's our responsibility. the only way it looks like we do some of these things is after we get pistol whipped by the market. with the debt...
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even if you know boehner is going to speak, you don't know what he's going to say. so, i'm not like doc, i didn't take everything out. but all trading positions are gone, i shaved a little b of a, shaved some forte, just because the volatility is too good. i'm optimistic, whatever the deal is, just the certainty will drive the market. >> so, for right now, you are essentially a seller. mike murphy, at this point, nobody knows when it's going to be the catalyst. nobody knows when it's going to be the catalyst to move the markets higher. there's some fear, i think, by individuals, they are going to miss the big push. >> you saw the vices today up over 20 for the first time in a long time. we bought the vices today. but when the market rallied, when it looked like we were going to get a meeting over the weekend, we took that position off. so, what you're looking at right
even if you know boehner is going to speak, you don't know what he's going to say. so, i'm not like doc, i didn't take everything out. but all trading positions are gone, i shaved a little b of a, shaved some forte, just because the volatility is too good. i'm optimistic, whatever the deal is, just the certainty will drive the market. >> so, for right now, you are essentially a seller. mike murphy, at this point, nobody knows when it's going to be the catalyst. nobody knows when it's...
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boehner's plan "b" and added unemployment insurance. i'm sure the senate will work on the bill we send them in august and amend it if they like and give us something else to work on. >> you've already put out there what you're willing to go with. want massive spending cuts, ten times the revenue increase but at the same time to get a deal done what level are you willing to compromise? >> the president's first deal was $5 in taxes for every spending cut. i think we should start the negotiate at $10 spending cuts like discussed in the presidential debates and we'll get somewhere to the middle. >> what tax increases would you consider? >> is between $3, $4, $5-1 ra o ratio. we've got a debt ceiling discussion that needs to go on before march and control our debt to gdp ratio. wee have to. >> speaker boehner made it clear that he would support or offer a tax increase on those americans making a million or more. who you support that? >> i think it would have to be coupled with some meaningful tax reform. i know that the bill he had proposed
boehner's plan "b" and added unemployment insurance. i'm sure the senate will work on the bill we send them in august and amend it if they like and give us something else to work on. >> you've already put out there what you're willing to go with. want massive spending cuts, ten times the revenue increase but at the same time to get a deal done what level are you willing to compromise? >> the president's first deal was $5 in taxes for every spending cut. i think we should...
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that's what obama and boehner were talking about, how to get to that split. and they just couldn't agree. and republicans kept saying to democrats, let's see your spending cuts, where are they and democrats said, if you want to cut social security and medicare, you tell us how you want to do it. the people like the idea of spending cuts but when you get down to the specifics, not very popular. so, it just wound up only on the tax issue, which is making republicans unhappy. >> let's talk about the republican party and now unified they are. we certainly saw boehner's plan b fail but might have just been some political positioning. as we go into the debt ceiling, do they have a unified approach or could we see that party splinter apart? >> they have a tea party caucus who wants to see a debt ceiling increase without really serious spending cuts. they want to see on the order of a trillion dollars more in spending cuts in order for any increase to have, you know, any impact. you're going to see a real problem there in the republican car us can to get a debt ceili
that's what obama and boehner were talking about, how to get to that split. and they just couldn't agree. and republicans kept saying to democrats, let's see your spending cuts, where are they and democrats said, if you want to cut social security and medicare, you tell us how you want to do it. the people like the idea of spending cuts but when you get down to the specifics, not very popular. so, it just wound up only on the tax issue, which is making republicans unhappy. >> let's talk...
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the john boehner has said chain cpi. and medicare eligibility age. >> right. >> those are the two things that he's laid out for medicare and social security. >> right. >> your party's nominee last year ran against obama -- or in this campaign ran against obama for cutting medicare. what are the specific entitlement savings that you guys want to enact? because that's your ask of obama. he's told you what taxes he wants to raise. >> i've got a whole list of them. i mean, certainly starting with chain cpi, but the age, the copay, means testing. >> he's agreed to that. >> betting on competitive situation in between medicare manage and deeper service without any cap i mean it adds up to about a trillion dollars. and when you have a situation where americans are paying one-third of the cost of medicare, i don't think people realize that, but literally people are paying one-third of the cost of medicare, we have 20 million more americans coming on medicare over the next decade, i mean it's a time bomb. >> i agree with you it's
the john boehner has said chain cpi. and medicare eligibility age. >> right. >> those are the two things that he's laid out for medicare and social security. >> right. >> your party's nominee last year ran against obama -- or in this campaign ran against obama for cutting medicare. what are the specific entitlement savings that you guys want to enact? because that's your ask of obama. he's told you what taxes he wants to raise. >> i've got a whole list of them. i...
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and i think that boehner, speaker boehner has been very aggressive in doing that. quite honestly i think he's gone much further than i would have expected him to go on the revenue side. he's essentially said he's willing to give the revenue to the president he wants. he was even willing to give him some rates that he wants. and he's also said, and i think he's right on this, unless you match those revenues with spending reductions he can't pass the house with that. and he shouldn't pass the house with it, because it really is the spending issue that we've got to focus on now. i think everybody's -- knows where the revenue number is going to. it's going to about $1 trillion. but the spending number is simply not there. and it hasn't been there, and until we get some movement from the other side of the aisle, so to say, on the issue of how you reform the entitlement accounts, you're not going to get that. now i will give the president credit for this. he did put on the table, as your other commentator there said, the chain cpi. that is a huge give in my opinion by th
and i think that boehner, speaker boehner has been very aggressive in doing that. quite honestly i think he's gone much further than i would have expected him to go on the revenue side. he's essentially said he's willing to give the revenue to the president he wants. he was even willing to give him some rates that he wants. and he's also said, and i think he's right on this, unless you match those revenues with spending reductions he can't pass the house with that. and he shouldn't pass the...
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this is speaker boehner right now heading into the white house. we'll keep you updated as this hour progresses here. >> indeed, meantime, more red arrows here on wall street as investors are awaiting for any signs of progress from the white house meeting which is about to get under way. right now we're sitting smack on 13,000. we've clawed back from being below that earlier on today. the nasdaq has also moved to the downside by half a percent as we speak. the s&p 500, as we speak, folks, is now down for the fifth straight day. i think it's down about 1.3% over the course of this week. so far let's see what happens over the last crucial hour of this trading day. >> so the clock is ticking. all eyes are on the white house. we've got i'm an javers there in washington as we wait for the white puff of smoke to come out of the white house, eamon. >> reporter: kind of what feels like here, bill. a lot of energy at the white house, a lot of curiosity surrounding this meeting. what you can't see from here and what i can't show you, unfortunately, is just a
this is speaker boehner right now heading into the white house. we'll keep you updated as this hour progresses here. >> indeed, meantime, more red arrows here on wall street as investors are awaiting for any signs of progress from the white house meeting which is about to get under way. right now we're sitting smack on 13,000. we've clawed back from being below that earlier on today. the nasdaq has also moved to the downside by half a percent as we speak. the s&p 500, as we speak,...
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remember this $600 billion is less than john boehner's last revenue offer. they are going for more at la later point. >> how is that going to play on the hill. >> it'll play well with democrats and not so well with republicans. the president said these tax increases will be permanent. the president is signalling there that whatever is in this agreement cooked up behind closed doors does include a permanent extension of tax decreases for the middle class. that's an important part of the news as well. >> it was
remember this $600 billion is less than john boehner's last revenue offer. they are going for more at la later point. >> how is that going to play on the hill. >> it'll play well with democrats and not so well with republicans. the president said these tax increases will be permanent. the president is signalling there that whatever is in this agreement cooked up behind closed doors does include a permanent extension of tax decreases for the middle class. that's an important part of...
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you know, boehner is going to be coming up to a speaker election january 3rd. all it will require is 17 republicans to overthrow him if they don't support him. that is a tiny number. you could argue this is inherently unstable. you could argue that maybe we're going to get it. some talk about bringing him an outside speaker like john huntsman. and i don't see that happening. but you get a sense of anything could happen in this system. >> and maybe it's a benefit. maybe in the long-term, but certainly right now there does seem to be a sense that it is a small group of people holding the rest of the process hostage. >> oh, yes. i'm trying to find something good to say about something. because the alternative is china, you know? i'd rather have a -- >> is that the case, though? is there not an alternative that you see and other examples as you look whether it's to europe, here in the uk? >> right. right. and people have been saying right now that america needs to do what britain has been doing. and maybe there's a case for that. but nonetheless, if britain has a p
you know, boehner is going to be coming up to a speaker election january 3rd. all it will require is 17 republicans to overthrow him if they don't support him. that is a tiny number. you could argue this is inherently unstable. you could argue that maybe we're going to get it. some talk about bringing him an outside speaker like john huntsman. and i don't see that happening. but you get a sense of anything could happen in this system. >> and maybe it's a benefit. maybe in the long-term,...
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certainly if speaker boehner puts something on the floor that his republican conference is not happy with, that's a risk that he's taking. >> has the president moved much on spending? because we talk all the time about the taxes but we seem to give a little less emphasis on the spending. is the president meaningful moving on that? >> depends on your definition of meaningfully. certainly there has been some movement from the white house over time on spending. i think there's been a movement toward talking about entitlements. when you talk about the cpi, consumer price index, that shift over there, that's a small concession to where republicans are but nobody's really talking about the big spending cuts that would have to be made to major entitlement programs to really alter the way that our budget course looks for the future, or to raise taxes in such a way as to pay for those programs as they are currently constituted. >> we made a lot of promises that are too costly to keep, it seems to me. thank you very much. have a happy new year. >> you, too. >> simon? >> let's check where we ar
certainly if speaker boehner puts something on the floor that his republican conference is not happy with, that's a risk that he's taking. >> has the president moved much on spending? because we talk all the time about the taxes but we seem to give a little less emphasis on the spending. is the president meaningful moving on that? >> depends on your definition of meaningfully. certainly there has been some movement from the white house over time on spending. i think there's been a...
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where we are awaiting boehner, pelosi, reid, mcconnell. all the major players to go into the white house, meet with the president, try to get a fiscal deal done. that meeting, 3:00 p.m. eastern time, in other words, in about eight minutes from now. any headline that comes out of it, you will hear first right here on the worldwide leader in business news. all right. let's forget theory for a moment and find out how the cliff may impact real businesses right here in america, so let's reconvene our "street signs" small business all-star panel. joining us president and owner of maria's italian kitchen and a new face to cnbc, david martin from h.j. martin & son in green bay who i met when i walked into his family store this summer and got a tour of the place. david, thank you very much for joining us. madeline, first, are you worried? are you customers going to stop eating at maria's if we go over the fiscal cliff? >> i don't know, brian. i've got my parachute packed. how about you? >> pasta parachute? that's terrible, sorry. >> full of lots of
where we are awaiting boehner, pelosi, reid, mcconnell. all the major players to go into the white house, meet with the president, try to get a fiscal deal done. that meeting, 3:00 p.m. eastern time, in other words, in about eight minutes from now. any headline that comes out of it, you will hear first right here on the worldwide leader in business news. all right. let's forget theory for a moment and find out how the cliff may impact real businesses right here in america, so let's reconvene...
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speaker john boehner has called the house back into session sunday evening. house majority leader eric cantor is telling his members to be prepared to work through january 2nd. both sides are still far apart on taxes and spending cuts. harry reid says prospect deals by monday are unlikely. minority leader mitch mcconnell says there's still time for an agreement. >> republicans aren't likely to sign a blank check just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> now, a new reuters poll shows americans blame republicans more than democrats or president obama for the fiscal crisis. and when asked who they held more response, 27% said the gop, 6% pointed to the dems and 30% said all of the above. for more on this, we're joined by christian schultz from barronberg bank. welcome. so we're going over the fiscal cliff. >> well, the consumer confidenc already be over the cliff in terms of confidence already. that might already be the first impact of the crisis of -- not of the crisis, but yes of the fiscal cliff.
speaker john boehner has called the house back into session sunday evening. house majority leader eric cantor is telling his members to be prepared to work through january 2nd. both sides are still far apart on taxes and spending cuts. harry reid says prospect deals by monday are unlikely. minority leader mitch mcconnell says there's still time for an agreement. >> republicans aren't likely to sign a blank check just because we find ourselves at the edge of the cliff. that wouldn't be...
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you have to know beyond boehner what the party wants. but in some sense, the republicans are being sham bollic and making fools of themselves. but in another sense, they are reacting favorably or rationally to the structure they are in. we have the sensible country with the dysfunctional washington. the reality is we have a country of people who want to bankrupt their children, spend money on themselves, and will punish any politician who prevents them from doing that. and therefore they will punish republicans if they cut entitlements. they will punish democrats if they cut entitlements. so what you saw today was the president shifting attention from debt reduction to tax cuts, which is the easy thing. i think the problem is centrally in country, and the politicians look like idiots because they are responding to horrible incentives. >> shambalic. that's a great word. >> what does shambollic mean, actually? >> i'm british. >> ok. >> i thought i'd let it go the first time. i didn't know what it meant. tom, you interviewed the candidate o
you have to know beyond boehner what the party wants. but in some sense, the republicans are being sham bollic and making fools of themselves. but in another sense, they are reacting favorably or rationally to the structure they are in. we have the sensible country with the dysfunctional washington. the reality is we have a country of people who want to bankrupt their children, spend money on themselves, and will punish any politician who prevents them from doing that. and therefore they will...
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we've talked about 400 which was the president's last offer to boehner. we've we've talked about 450, 5 oorks all of those are possibilities about and there's an inner play between those levels and things like what happens on the estate tax, what happens on the sequester. do they come up with two months of cuts, do they come up with three months of cuts to try to satisfy those who say, well, we may not want the across the board budget cuts that are called for under current law, but we want some cuts if we're going to agree to tax increases. that's a key republican demand. so all of those things are in play. each movement in any one part affects the others and we'll vus have to s just have to see where it comes out including capital gains and dividends which is i'm assuming would go 20%. that's down from 39.6 which is where they would go under current law if we go over the cliff. but it's up from 15 in both areas from where we are right now. >> last question, john, and i'll make this question. if we're talking about things like capital gains and seques r s
we've talked about 400 which was the president's last offer to boehner. we've we've talked about 450, 5 oorks all of those are possibilities about and there's an inner play between those levels and things like what happens on the estate tax, what happens on the sequester. do they come up with two months of cuts, do they come up with three months of cuts to try to satisfy those who say, well, we may not want the across the board budget cuts that are called for under current law, but we want some...
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john boehner said it's up to the president and harry reid so are both sides standing at the precipice waiting for each other to make the next move. >> not really. it really is all up to john boehner to decide whether he wants to bring this vote to the house floor. if he doesn't, i would put on either your cliff bungee cord or your cliff parachute and that's actually an important difference. >> we would like a bungee cord and a parachute. >> right. >> but i would like to know maybe we have neither. what do you think happens to the market, matt, in either scenario, deal or no deal? >> i can't imagine we're going to get a deal done with any significance. you know, they are probably going to change it as we go forward so maybe they will let us go over the cliff, the market will crash a little bit. i don't want to say crash as in crash but we could retrace some of the gains and a rough start to 2013 until they finally realize that maybe the large-cap companies could be leading us through the rallies. maybe it will take the stocks back up the latter half of 2013, first quarter. >> oliver, w
john boehner said it's up to the president and harry reid so are both sides standing at the precipice waiting for each other to make the next move. >> not really. it really is all up to john boehner to decide whether he wants to bring this vote to the house floor. if he doesn't, i would put on either your cliff bungee cord or your cliff parachute and that's actually an important difference. >> we would like a bungee cord and a parachute. >> right. >> but i would like to...
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i think you'll see everything sold off. >> boehner tried to get something through the house. didn't have the votes. i think the market will be skeptical. you may get a minor pop in the indices but you're not going to get a real pop until it passes the house and the senate. >> next year can certainly be, certainly could start out to be a volatile one for the markets. mike santelli of yahoo finance joins us live with what we can expect. welcome back. it is good to see you again thanks a lot. >> you have been expecting if we do get some kind of deal that will sell right into it you still really believe that given the moves of the market over the last few days? >> you got to tell me exactly what level we're trading at when we get news of a real deal. when we're down 3% in eight days which is what we are right now you're preselling a little bit of that nervousness that i would have expected to set in after a deal. i felt like if you ramped because you thought a deal was going to happen then you just get ratification of that deal. to me that wasn't in itself a catalyst but at this
i think you'll see everything sold off. >> boehner tried to get something through the house. didn't have the votes. i think the market will be skeptical. you may get a minor pop in the indices but you're not going to get a real pop until it passes the house and the senate. >> next year can certainly be, certainly could start out to be a volatile one for the markets. mike santelli of yahoo finance joins us live with what we can expect. welcome back. it is good to see you again thanks...
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the folks on the senate side said, wait a second, john boehner is who to blame. at the white house, they're pointing their finger at capitol hill. there's a lot of finger pointing but not a whole lot of action. >> all right, eamon. thanks so much. >> you bet. >>> as negotiations continue on washington, that is a bit of an overstatement, check wall street, the fear index is spiking as the markets drop. we're back above 20 for the first time in fact in five months. up 14% in the past week. let's get trading action here at the nysc. mary thompson joins us on the floor. this is a vulnerable point for the markets. traders have been saying they're going to make a lot of noise and it will get made up. >> suddenly it isn't. so we're having a bit of a reality check. the dow, the s&p and the nasdaq all negative. it's the lowest now of the month. the vix is spiking. moving above the 20 level for the first time in five months. we want to point out the last time we had this angst over what was happening in washington was in august of 2011 when we had the debt crisis and the s
the folks on the senate side said, wait a second, john boehner is who to blame. at the white house, they're pointing their finger at capitol hill. there's a lot of finger pointing but not a whole lot of action. >> all right, eamon. thanks so much. >> you bet. >>> as negotiations continue on washington, that is a bit of an overstatement, check wall street, the fear index is spiking as the markets drop. we're back above 20 for the first time in fact in five months. up 14% in...
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Dec 29, 2012
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they don't pass anything and they would make the argument they would limit the tax cut and speaker boehner has made the same argument. >> thank you so much. we want to show people what is going on with the after markets because even though john says people are optimistic the markets are not optimistic. right now if the dow jones industrial average were to open at this moment it would be down 315 points. that's a reflection of the futures trading that happens in the after-hours. we'll see how asia opens on monday and right now the markets do not like what they see. they are not optimistic at this point and maybe if a mini deal gets done, a mini deal is not enough to deal with what the country faces. after all of this time the president still wants congress to come up with a plan instead of assuming the leadership mantle himself. let's talk to a member of congress about that. james langford serves in the house budget committee and he joins me now. sir, have you conceded you're not getting spending cuts are you voting on raises taxes on people who make over $250,000 come sunday or monday, wha
they don't pass anything and they would make the argument they would limit the tax cut and speaker boehner has made the same argument. >> thank you so much. we want to show people what is going on with the after markets because even though john says people are optimistic the markets are not optimistic. right now if the dow jones industrial average were to open at this moment it would be down 315 points. that's a reflection of the futures trading that happens in the after-hours. we'll see...
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Dec 24, 2012
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speaker boehner says they'll be going on vacation without legislation. everyone assumes the fiscal cliff negotiations are done for the moment. suppose the newfound bears conventional wisdom is wrong. suppose if we don't go over the fiscal cliff or at the very least we get resolved with minimum destruction as i talked about at the top of the show. my super bowl see you in new orleans solution. i'm not saying this will happen. i'm saying this positive scenario is very much on the table. it has to be considered. and in that rosy okay things are all right scenario, good things could happen to our stock market in 2013. let's say you're an optimist that believes the fiscal cliff will be resolved and they rise above. what's the best way to play a fabulous bull market that some think could be unleashed? simple. assuming that everything goes right, the best proxy for the market in 2013 is the blackstone group. the big publicly traded asset firm. why blackstone? a company that i wasn't keen on. the company earns money investing other people's money. private equity
speaker boehner says they'll be going on vacation without legislation. everyone assumes the fiscal cliff negotiations are done for the moment. suppose the newfound bears conventional wisdom is wrong. suppose if we don't go over the fiscal cliff or at the very least we get resolved with minimum destruction as i talked about at the top of the show. my super bowl see you in new orleans solution. i'm not saying this will happen. i'm saying this positive scenario is very much on the table. it has to...
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the tea party is alive and well and there are suggestions that boehner may not be able to hold on to his position. >> that brengs up an interesting point. there's fighting within the parties themselves that we're not privy to. i think your point is well made there, there might be some radical changes in that party. they're infighting and that's why they're not sitting down at the table. but from my sources in the u.s., there are members of each party talking to each other over drinks and things like that. so there is progress. >> i want to come back in what to invest on, and you were indicating that you think we could potentially see more value coming out of europe next year. we keep hearing that it takes a year for the economic data to get into the real economy, right? and this should be reflected in the europe an equity markets you would assume. we're still in contraction. >> yeah. my concern about this is not -- we shouldn't be looking at the market by itself. we should be looking at the market in comparison to the other markets. i don't think the european market is going to do in
the tea party is alive and well and there are suggestions that boehner may not be able to hold on to his position. >> that brengs up an interesting point. there's fighting within the parties themselves that we're not privy to. i think your point is well made there, there might be some radical changes in that party. they're infighting and that's why they're not sitting down at the table. but from my sources in the u.s., there are members of each party talking to each other over drinks and...
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Dec 26, 2012
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no offense to speaker boehner, and what has to happen democrats in the middle. we'll lose democrats on the far left because there are going to be some entitlement cuts and reforms, and republicans in the middle are going to have to vote this, and they will have to vote it even if it means that 40% of the republicans vote yes and 60% vote no. the republicans will have to face up to the fact that it has to be done, and if we care about this country and all of the politicians believe ate about caring so much about the country, getting the economy moving again, well, we better do something in the next month, month and a half and it better be real and it better be big. >> if we only do a kick the can down the road, governor? when's the day of reckoning? can only kick the can down the road for a certain amount of time and then it's like a total little pear shape, right? >> the day of reckoning could be when we go off the fiscal cliff, everybody votes to have the tax cuts. everybody gets the political advantage of a tax cut so scared little rabbits don't have to worry
no offense to speaker boehner, and what has to happen democrats in the middle. we'll lose democrats on the far left because there are going to be some entitlement cuts and reforms, and republicans in the middle are going to have to vote this, and they will have to vote it even if it means that 40% of the republicans vote yes and 60% vote no. the republicans will have to face up to the fact that it has to be done, and if we care about this country and all of the politicians believe ate about...
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john boehner suffered an embarrassment thursday night. >> at least he suffered it then. didn't have this great big deal we thought would avert everything and get us where we want to go and then not deliver. are you sure the president can deliver everything from his side. >> the deal will look like the budget control act of the summer of 2011 where you get democrats and republicans voting for it. all you learned thursday night is the president can't deliver 218 of his own guys for a deal. this is something the media isn't really picking up on much. >> the speaker. >> sorry. the speaker. for a deal which was never going to become law. remember, a member of congress, a republican, i know plenty of them, are willing to vote for revenue increases. they say we have this deal harry reid said the senate won't pick up and ask you to vote for revenue increase or tax hike, a lot of republicans will say hell no to that whereas they might vote for the larger deal that stands for a chance of addressing the fiscal cliff. >> congressman, what is the chance we're doing this in february a
john boehner suffered an embarrassment thursday night. >> at least he suffered it then. didn't have this great big deal we thought would avert everything and get us where we want to go and then not deliver. are you sure the president can deliver everything from his side. >> the deal will look like the budget control act of the summer of 2011 where you get democrats and republicans voting for it. all you learned thursday night is the president can't deliver 218 of his own guys for a...
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will speaker boehner move it to the floor? if so, will it pass with democratic and republican votes? or will republicans block the measure? that will be the key drama for later this afternoon or later this evening or even tomorrow. no indications as of just yet as when the votes will actually happen, scott. >> aman, happy new year to you. see you on the other side. we are trading today's mark with josh and brian kelly. wise, we are probably going to get something done over the next 48 hours. the size is the question. what's the market going to look look on the other side of the holiday? >> well, to me that's dependent upon the deal. we are seeing some renax the market today in expectation of a deal. to tell it to frame how this has gone for harry reid what we just saw, that was upbeat for him. so it's been a tense day of negotiation. i think anything less than, i wouldn't say the grand bargain is out the window, but a decent-sized deal touching on the issues of spending, which we are not going to get, we'll see a short pop in
will speaker boehner move it to the floor? if so, will it pass with democratic and republican votes? or will republicans block the measure? that will be the key drama for later this afternoon or later this evening or even tomorrow. no indications as of just yet as when the votes will actually happen, scott. >> aman, happy new year to you. see you on the other side. we are trading today's mark with josh and brian kelly. wise, we are probably going to get something done over the next 48...
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speaker john boehner has not even committed to bringing the house back into session. the senate will come back on thursday. and not deal with the fiscal cliff but deal with spending bills to clean up new york and connecticut and new jersey from hurricane sandy and reauthorize some intelligence bills. so i mean, there's no real deal in the offing. there's nothing going on behind the scenes that would lead us to believe that anything would get done before january 1. >> all right. josh, out to you. obviously a lot of the discussion has been around the kind of deal that we would get if we do get something. if a deal does come through, it -- more likely will not be comprehensive, right? there's going to be a lot of negotiating that occurs after the first of the year. i guess my question to you is, does this leave the markets open to turmoil and more volatility as we head into january? >> the markets are going to be left open to turmoil and volatility, period. what we've seen is that despite the stakes getting higher, this isn't a game of poker but one of go fish. and no on
speaker john boehner has not even committed to bringing the house back into session. the senate will come back on thursday. and not deal with the fiscal cliff but deal with spending bills to clean up new york and connecticut and new jersey from hurricane sandy and reauthorize some intelligence bills. so i mean, there's no real deal in the offing. there's nothing going on behind the scenes that would lead us to believe that anything would get done before january 1. >> all right. josh, out...
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john boehner is not going to roll over and do whatever they want. we're going to play this over and over and over again, not just on the debt ceiling but when government spending runs out. >> to mr. haven, my son's great english teacher, they haven't gotten anything done yet. eamon. thank you. >> michelle, the london whale the big headlinen2012. will the orlando whale make a big splash in 2013. just imagine, you may be able to get a piece of shamu. the story next on "power lunch." >>> this cnbc program is sponsored by the lincoln wish list event. when you have diabetes... your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. >>> take a look at your screen right now. mother nature really dumping snow on our neighbors to the north. they generally handle snow pretty well up in canada, but this storm came as fast and furious tying u
john boehner is not going to roll over and do whatever they want. we're going to play this over and over and over again, not just on the debt ceiling but when government spending runs out. >> to mr. haven, my son's great english teacher, they haven't gotten anything done yet. eamon. thank you. >> michelle, the london whale the big headlinen2012. will the orlando whale make a big splash in 2013. just imagine, you may be able to get a piece of shamu. the story next on "power...
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they also said that speaker boehner said in the meeting that he won't move anything until the senate moves first. and nancy pelosi called the meeting constructive and candid. that's the first indication we have on the record from one of the leaders about what happened in that meeting. all eyes are on the 6:30 p.m. house reconveninreconvening. what if anything will they be able to vote on? we don't know the answer as of now. we do know the president did not make any new offers in the meeting today. >> it is staggering for the president to call the congressional leaders in at 3:00 on a friday and tell them to come up with a plan, when that could have been the case this morning. to give them time to come up with a plan. >> you're right, i think based on what we know now publicly it would appear that the white house sort of let the expectations game get ahead of them here. because there was talk in washington early on in the day that there might be a mini deal pending. maybe an offer from the president. none of those peer to have been true. we're told the president went into the meeting
they also said that speaker boehner said in the meeting that he won't move anything until the senate moves first. and nancy pelosi called the meeting constructive and candid. that's the first indication we have on the record from one of the leaders about what happened in that meeting. all eyes are on the 6:30 p.m. house reconveninreconvening. what if anything will they be able to vote on? we don't know the answer as of now. we do know the president did not make any new offers in the meeting...
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. >> the linchpin is whether john boehner can bring his troop as long. >> we need to get this right. >> the president is not, not going to make a new offer in this meeting today. >> the dow has fallen to the new lows. >> we may still be able to reach an agreement. >>> all right cliff or not, the markets finished 2012 in good fashion. the for the year the s&p 500 up a healthy 13.4%. all right joining us now is london based cnbc's kelly evran. before she deserted me, she was a regular on this program. good year for the s&p 500. actually, judging from the numbers, the economy could be even stronger. looks like the back end got better. here is the interesting thing. business investment could be a weak spot. if it is not because of the fiscal cliff, then there is more reason to be concerned. we saw in the sentiment figures, especially in the last month, there is a clear sentiment shot. perhaps even a real spending shot for businesses. five months of slumping, the last two months showed healthy gains. consumer spending, personal income, unemployment claims are low. what do you make of that
. >> the linchpin is whether john boehner can bring his troop as long. >> we need to get this right. >> the president is not, not going to make a new offer in this meeting today. >> the dow has fallen to the new lows. >> we may still be able to reach an agreement. >>> all right cliff or not, the markets finished 2012 in good fashion. the for the year the s&p 500 up a healthy 13.4%. all right joining us now is london based cnbc's kelly evran. before she...
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Dec 27, 2012
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and these idiots from harry reid to the president on top and john boehner included, i'm equal opportunity, it's horrible. >> we heard the same thing at the end of 2011 europe would spill to theist and the u.s. consumer was changing their habits. i'd like to point out the discretionary consumer is the second best in the market this year, 21%. any whoever made a bet against the u.s. consumer -- >> what kind of pullback are we talking about? if you guys like the market through the early part of 2013 -- >> i don't like it in january, judge, for what i just mentioned because we will see tax laws selling. we have not seen. we have seen gains selling, people taking gains. when they start taking these loss and when all the rest of this stuff kicks in, that's when i worry these guys will make an even worse deal in panic in january. >> let's go to our guests. what is the best way to protect your money with the cliff deadline a few days away, jason pride, director of glenn me. how are you doing? how do you perceive the markets with a couple days of trade iin left? >> i kind of agree with the conster
and these idiots from harry reid to the president on top and john boehner included, i'm equal opportunity, it's horrible. >> we heard the same thing at the end of 2011 europe would spill to theist and the u.s. consumer was changing their habits. i'd like to point out the discretionary consumer is the second best in the market this year, 21%. any whoever made a bet against the u.s. consumer -- >> what kind of pullback are we talking about? if you guys like the market through the...
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to throw this out in the full senate for a vote much less the house has a whiff of plan "b" and boehner on it. i think it may still get worked out in the band-aid form, but i don't think that's complete at this point. so i think maybe we're all going to be working tomorrow. >> i'm just getting word now that the house gop is going to caucus in an hour. they may not vote, but they'll be talking about what they're hearing coming from the senate and probably get more details at that point. it's not like we're not going to get any progress. but as i said before, rick, for something this important, would you want this to be that much of a rush job in. >> i agree with you. i totally absolutely agree with you. that it needs to be taken time. my reservation all day that i kept mum was is the house going to get this at ten minutes to midnight? i think those guys have some responsibility to do the job a little differently than the health care plan. i don't think they want to find out what's in it after they vote on it. >> without stating the obvious, it would be nice they took their time before th
to throw this out in the full senate for a vote much less the house has a whiff of plan "b" and boehner on it. i think it may still get worked out in the band-aid form, but i don't think that's complete at this point. so i think maybe we're all going to be working tomorrow. >> i'm just getting word now that the house gop is going to caucus in an hour. they may not vote, but they'll be talking about what they're hearing coming from the senate and probably get more details at that...
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you know, as congress called it a day or as the boehner bill didn't pass the plan b. but i remember the t.a.r.p. vote. that was some real movement. >> yes. >> we didn't have that type of movement. we still may. but i think in the end, i think especially the treasury markets focused on the bigger picture of all the issues that we need to address on reform and i think the equity markets definitely are fueled by some of those fed programs even though you know i'm not a big fan of them. >> you know what? it's interesting that you mention that. that is the expectation that we could see a move like we saw that day with t.a.r.p. when the market was disappointed that the t.a.r.p. may not, may or may not happen. the market i believe was down 900 points, rick. 800 to 900 points. then it came back but ended down 700. >> right. so the other night, 200 and some points on the dow futures. >> right. >> i think we had about 40 points worst case on the s&ps if i recall. these are big numbers but when it was all said and done it was nothing like it was that day. >> so how reversible is
you know, as congress called it a day or as the boehner bill didn't pass the plan b. but i remember the t.a.r.p. vote. that was some real movement. >> yes. >> we didn't have that type of movement. we still may. but i think in the end, i think especially the treasury markets focused on the bigger picture of all the issues that we need to address on reform and i think the equity markets definitely are fueled by some of those fed programs even though you know i'm not a big fan of them....
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house speaker john boehner says the senate needs to act first. meantime, just about 40 minutes ago, tim geithner said the u.s. is simply running out of money. let's get the latest on this game of chicken from c nbc's chief political correspondent, john harwood. john? >> melissa, i want to bring you up to date on the fiscal cliff developments. first of all, as you mentioned, secretary geithner has informed the senate that the united states government will hit its debt ceiling on monday. that is december 31st. now, that doesn't mean that anything happens immediately, because the treasury can take various steps to postpone the moment of reckoning, probably a couple of months. it's still significant. that's an effort to pressure congress. secondly, the house republicans have met, leadership has met, sent a letter to democrats saying the house has acted, now it's up to the senate to act. that's, of course, the m theic-controlled senate which has no intention of taking up that house bill, which would extend all of the bush tax cuts. the president wants
house speaker john boehner says the senate needs to act first. meantime, just about 40 minutes ago, tim geithner said the u.s. is simply running out of money. let's get the latest on this game of chicken from c nbc's chief political correspondent, john harwood. john? >> melissa, i want to bring you up to date on the fiscal cliff developments. first of all, as you mentioned, secretary geithner has informed the senate that the united states government will hit its debt ceiling on monday....
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sequester to avoid the automatic budget cuts are up to mitch mcconnell in part and also up to john boehner who may be asked before it's over to put on the floor of the house a bill that lacks support of the majority of his own members. that is something that would be a risk on the speaker's part as he faces a re-election by the house of representatives to the speakership in early january, but we'll see whether if it comes to that, whether he's willing to do it. 8. >> john, thank you very much. >>> as we edge ever closer to our impending fiscal doom, we will look more closely how the markets are reacting and what is yet to come. joining us now, michael farr in washington, and also peter schear. great to have you both with us. thanks for coming back from various holidays. michael, this is not an economic crisis. this is not a market crisis. this feels like a political crisis. do you blame our leaders for failing to get their act together over this? >> mandy, it is a profound failure of leadership once again from washington. i mean, we have been facing this profligate spending for a long time
sequester to avoid the automatic budget cuts are up to mitch mcconnell in part and also up to john boehner who may be asked before it's over to put on the floor of the house a bill that lacks support of the majority of his own members. that is something that would be a risk on the speaker's part as he faces a re-election by the house of representatives to the speakership in early january, but we'll see whether if it comes to that, whether he's willing to do it. 8. >> john, thank you very...
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john boehner can't. he just can't pass a bill off his floor with a majority democrats and 20 republicans. >> the house already voted to extend all of the bush tax cuts. >> and the senate -- >> house leaders are right to say the ball is in the senate's court. until they act we can't know -- what kind of deal we come up with. >> the ball is always in the senate's court. that's how it works. >> you are both argue being process. here is what i don't understand. i stay to democrats that come on, what p the republicans voted to extend taxes on everybody that you want, would you means test social security and medicare? the vast majority say oh, no, no, no, no. >> not this democrat. i would absolutely support it. >> unfortunately you are not in congress. >> you are right. >> i talked to republicans. i said, listen, if tomorrow the democrats had an epiphany and decided representative ryan planes for making medicare a voucher system were the best thing to do, would you vote to raise taxes on millionaires and have
john boehner can't. he just can't pass a bill off his floor with a majority democrats and 20 republicans. >> the house already voted to extend all of the bush tax cuts. >> and the senate -- >> house leaders are right to say the ball is in the senate's court. until they act we can't know -- what kind of deal we come up with. >> the ball is always in the senate's court. that's how it works. >> you are both argue being process. here is what i don't understand. i stay...
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standpoint, would the president want to give on anything and lose some of his base if he feels that boehner can't even deliver his own package. so they greet it a little more negatively than the full market. >> on the side of senator john bar oso said over the weekend, said the president senses victory at the bottom of that cliff. in other words, if they can't deliver on the cliff, most people blame republicans anyway. so politically there is some argument to be made for going over. >> well, yes, it would seem to favor the white house. so that might be tempting. on the one side, as i say, no sense giving in if you think the man you're negotiating with can't deliver anything. it could get to be very difficult. again, we're watching for little signs like, will the treasury ask companies to change the withholding. if not, then they're assuming that the trip over the cliff is going to be very, very brief. so we'll see how -- >> if they don't, though, that suggests it might be a longer run over this cliff. >> oh, if they do come in and say we'd like you to take another look at your withholding,
standpoint, would the president want to give on anything and lose some of his base if he feels that boehner can't even deliver his own package. so they greet it a little more negatively than the full market. >> on the side of senator john bar oso said over the weekend, said the president senses victory at the bottom of that cliff. in other words, if they can't deliver on the cliff, most people blame republicans anyway. so politically there is some argument to be made for going over....
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boehner had a bad beating in that plan b vote. >> i think the main thing that boehner has going for him in the rivalry is he has the worst job in the world. >> is it really the worst job in the world? >> certainly the worst job in congress. speaker boehner has to sit there and eat a lot of stuff you wouldn't necessarily want to eat because there are a lot of republicans who basically want to emote, they want to act up and speaker boehner just has to take it and try to hammer deal and eric cantor, if he goes into boehner's role, he has to do the same thing boehner wants to do. >> the starting quarterback hates the number two quarterback and boehner, if he was smart, he should have dispatched him a long time ago and said, young man, i'm going to put you out to pasture if you pull that crap on me again. he made a mistake over the debt ceiling. >> the two of them are working very closely during the negotiations. if you ask any republican on the senate, nobody thinks boehner's speakership is challenged. >> but it only takes 17 votes for that whole thing to fall apart. it reminds me of "the g
boehner had a bad beating in that plan b vote. >> i think the main thing that boehner has going for him in the rivalry is he has the worst job in the world. >> is it really the worst job in the world? >> certainly the worst job in congress. speaker boehner has to sit there and eat a lot of stuff you wouldn't necessarily want to eat because there are a lot of republicans who basically want to emote, they want to act up and speaker boehner just has to take it and try to hammer...
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boehner hasn't cut cant or out. you ask any republican on the hill, nobody thinks boehner should be challenged. >> that does seem to be conventional wisdom. but it only does take 17 votes for that whole thing to fall apart. he reminds me of the godfather, keep your friends close, your enemies closer. >> he knows him too well to want to take it. >> that's a fascinating point as well. number two, we've got grover norquist versus the gop. and here's what's fascinating. he's been a major player, a huge figure, and yet the push back has been growing. the tide has been swelling. take a look at this montage clip of republicans pushing back on grover norquist in the atr pledge. >> i'm not obligated on the pledge. >> when you're $16 trillion in debt, the only pledge we should be making to each other should be avoid greed. >> i never signed the pledge. >> he's becoming irrelevant. you can see it in his eyes. he knows the game is up. >> a pledge you sign 20 years ago, 18 years ago, is for that congress. >> i'm going to be the
boehner hasn't cut cant or out. you ask any republican on the hill, nobody thinks boehner should be challenged. >> that does seem to be conventional wisdom. but it only does take 17 votes for that whole thing to fall apart. he reminds me of the godfather, keep your friends close, your enemies closer. >> he knows him too well to want to take it. >> that's a fascinating point as well. number two, we've got grover norquist versus the gop. and here's what's fascinating. he's been...
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Jan 1, 2013
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house speaker john boehner feeling a lot of the heat. we'll talk with the spokesperson for a conservative group that suggests that he resign because of his failed plan "b." p chases, plus a 50% annual bonus. and everyone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? no! ♪ festive. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus a 50% annual bonus on the cash you earn. it's the card for people who like more cash. what's in your wallet? it's the card for people who like more cash. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did s
house speaker john boehner feeling a lot of the heat. we'll talk with the spokesperson for a conservative group that suggests that he resign because of his failed plan "b." p chases, plus a 50% annual bonus. and everyone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? no! ♪ festive. [ male announcer ] the capital one cash rewards card gives you 1% cash...
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how much trouble is john boehner in as the speaker of the house? >> i actually -- i actually don't think that john boehner is going to be in that much trouble this year. i don't think when his speakership comes up for a vote that he will be in trouble. i don't see anyone else lining up to take his job. >> perhaps in the last few hours we may have seen -- >> i just interviewed darrell issa and he says that he's with eric cantor. >> so that might be changing but i do think that john boehner has certainly lost control of his caucus. but frankly, they might want a weak leader because then they think they can control him. >> it's the second poke in the eye. he had plan b and now the pressure a lot of people got from the meeting at the white house, boehner said, it's up to the senate. let them pass something. if it's a bipartisan majority, we'll bring it to the house and vote on it up or down. >> you were talking about the political damage republicans could sustain and there are about 50 or 60 republicans sitting thinking, yes, i'm really worried about t
how much trouble is john boehner in as the speaker of the house? >> i actually -- i actually don't think that john boehner is going to be in that much trouble this year. i don't think when his speakership comes up for a vote that he will be in trouble. i don't see anyone else lining up to take his job. >> perhaps in the last few hours we may have seen -- >> i just interviewed darrell issa and he says that he's with eric cantor. >> so that might be changing but i do think...
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boehner is not a strong leader. he doesn't have the pork and the earmarks anymore since they've been banned. and a lot of the incoming -- or the folks that came in in 2010, the tea party folks, they look at the tom delay are era and say -- >> they're both long time qulil wat capitol hill watchers, and we have to ask you are you seeing any sway now in following boehner? is he losing support? >> obviously the fact that he thought that he would be able to bring the bill last week to the floor to raise taxes on everybody making a million dollars or more and then had to pull it before he even brought it up for a vote, that gives you your answer. the answer is yes. he went out so far on a limb it almost broke off saying he was going to do it, it was going to pass. what he was trying to do i'm told from sources, familiar with the meetings that he had leading up to the decision which didn't go anywhere, was try to save republicans from themselves. he understands, he's an old time -- you you covered him for years in congress
boehner is not a strong leader. he doesn't have the pork and the earmarks anymore since they've been banned. and a lot of the incoming -- or the folks that came in in 2010, the tea party folks, they look at the tom delay are era and say -- >> they're both long time qulil wat capitol hill watchers, and we have to ask you are you seeing any sway now in following boehner? is he losing support? >> obviously the fact that he thought that he would be able to bring the bill last week to...
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Dec 27, 2012
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boehner's got to get off -- the majority of the majority must agree to something. it's going to take democratic votes to pass a tough fiscal compromise and unless there is inclusion and discussion on both sides of the aisle about this issue, that compromise gets tougher and tougher. >> thank you for coming "outfront." >> appreciate it. thank you. >> now, on the other side of the aisle. republican congressman of wisconsin. congressman, you just heard your arizona colleague say you all should have absolutely stayed in d.c. and worked on a deal over the holidays. do you agree? >> i do. absolutely. we should have stayed there. i think the president should have stayed there. i think the government should have stayed in place and kept working on it. as a freshman member of the congress, i don't have the pull or the power to say when we're going to be there, when we're not but i will say this, that the u.s. house of representatives has acted. we're waiting for the senate to act and i believe that as soon as they act we'll be back in town to find some forge -- some pathway
boehner's got to get off -- the majority of the majority must agree to something. it's going to take democratic votes to pass a tough fiscal compromise and unless there is inclusion and discussion on both sides of the aisle about this issue, that compromise gets tougher and tougher. >> thank you for coming "outfront." >> appreciate it. thank you. >> now, on the other side of the aisle. republican congressman of wisconsin. congressman, you just heard your arizona...
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i was struck by the fact that not a single democrat supported boehner's plan b. that was nancy pelosi's solution. raise taxes on those earning a million dollars or more. not one democrat agreed to vote for it. >> let's talk about that plan brk. it was not successful. hastert had some unkind words saying i don't want to be critical of john, but you don't ever bring something to the floor if you don't have the votes. did the speaker miscalculate and do you think he'll be challenged for the speakership? >> no, he's not going to be challenged for the speakership. he didn't bring it to the floor. he decided not to, but he could have if they had had even 30 democrats willing to say i'll do what nancy pelosi said we should do and that plan brk would have passed. it would have demonstrated we were willing to put revenue on the table and got the wheels gree greased a little bit for a negotiation. >> john harwood tweeted this. he said gop house members and colleagues, i blame most of this on a block of about 50 members who have the political judgment god gave a goose. do y
i was struck by the fact that not a single democrat supported boehner's plan b. that was nancy pelosi's solution. raise taxes on those earning a million dollars or more. not one democrat agreed to vote for it. >> let's talk about that plan brk. it was not successful. hastert had some unkind words saying i don't want to be critical of john, but you don't ever bring something to the floor if you don't have the votes. did the speaker miscalculate and do you think he'll be challenged for the...
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and on tuesday john boehner, the 113th congress is sworn in and john boehner is expected to be elected to his second term as house speaker by a vote in the house. we'll see if everyone plays nice in the sandbox and work together to solve the country's problems in 2013. if you're sitting down to breakfast, this bowl of cereal, that milk can get more expensive if a fiscal cliff deal is not reached. that gallon of milk might cost as much as $7. cnn's candy crowley spoke with secretary of agriculture tom vilsack. $7 milk? this is known as the dairy cliff, right? >> yes, it is. we've been so focused on other kinds of cliffs, but, in fact, because there is no farm bill, they revert back to some laws that were enacted in the 1940s. it would cause -- because milk won't be, if you will, propped up, it would cause milk prices too almost double, at least according to the agriculture secretary. they're working on a fix, something like that which hits consumers so hard. they'll notice that immediately is likely to be something that congress does do something about. my guess is they will just extend
and on tuesday john boehner, the 113th congress is sworn in and john boehner is expected to be elected to his second term as house speaker by a vote in the house. we'll see if everyone plays nice in the sandbox and work together to solve the country's problems in 2013. if you're sitting down to breakfast, this bowl of cereal, that milk can get more expensive if a fiscal cliff deal is not reached. that gallon of milk might cost as much as $7. cnn's candy crowley spoke with secretary of...
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does john boehner come out of this weakened or strengthened? >> john boehner's weakness and strength are kind of the same thing. he tends to take a laissez faire approach with his guys, doesn't kick them in the side very often. not able to do that. that makes him popular, means people like him, but it's hard for him to command his troops. i don't think he comes out of this any worse off than before in terms of members of his caucus, they look at him as having created a strategy that is narrowly navigating all the sholes. >> the result of the deal, we will have to have two or three more deals in the coming months and go through the cliff like negotiations. what is the takeaway and lesson for the republican conference. they keep bainary long and try to get better deals? or get forced to the up or down votesory the course of the coming months? >> they are looking for leverage. their favorite word. where do they have lev rage over the president to get spending cuts? they keep seeking leverage long past the point where it's obvious the president has
does john boehner come out of this weakened or strengthened? >> john boehner's weakness and strength are kind of the same thing. he tends to take a laissez faire approach with his guys, doesn't kick them in the side very often. not able to do that. that makes him popular, means people like him, but it's hard for him to command his troops. i don't think he comes out of this any worse off than before in terms of members of his caucus, they look at him as having created a strategy that is...